-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：EXPD第一季業績強勁，每股盈餘（EPS）為1.71美元，高於去年同期的1.47美元，顯著超出我們1.37美元的預期和1.33美元的市場普遍預期。營收成長4%至27億美元，高於去年同期的26.7億美元，也超過了我們25.9億美元的預期，空運和海關業務的強勁表現抵消了海運業務的疲軟。各業務板塊表現不一，反映了市場分化：空運業務營收在有利定價的推動下飆升14%至10.3億美元，而海運業務營收則因運力過剩導致價格和貨運量雙雙承壓，暴跌23%至5.99億美元。管理層預計，儘管海運業務獲利能力將保持穩定，但全球運力過剩的局面在短期內仍將持續。海關/其他業務收入成長17%至11.5億美元，所有產品均實現兩位數成長，主要得益於超大規模資料中心和高價值技術客戶的需求以及關稅的複雜性。儘管受到中東地區業務中斷的影響，但公司營業利潤率仍達到30%的目標，這得益於2025年人工智慧和技術投資帶來的生產力提升開始顯現成效。
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Research Alert: CFRA Maintained Buy Rating On Suncor Energy Inc. As Free Funds Flows Grows 53%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our 4-STARS (Buy) rating and boost our target price to CAD103. This reflects a 8.0x EBITDA multiple and 18.0x earnings multiple based on our 2027 projections. We increased the EBITDA multiple in tandem with the industry multiple to reflect superior operational execution. The story is largely unchanged since the 2026 Investor Day, as Q1 proved to be another strong quarter of cash flow generation and value return. Upstream production reached 875.2k bbl/d, up 2.6% Y/Y. Refining throughput reached 497.8k bbl/d at 97% utilization, while refined product sales increased 13% to 680.9k bbl/d. Free funds flow grew 53% to CAD2.91B. The company returned CAD1.54B to shareholders through CAD825M in share repurchases and over CAD700M in dividends. We maintained our 2026 and 2027 EPS forecasts of CAD6.97 and CAD5.39, respectively.
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